Good morning. Stocks are in slightly negative territory as Consumer Confidence has fallen to a five-month low amid growing concerns over inflation and a rise in unemployment. … and a government shutdown certainly doesn’t help. Yet here we are … once again witnessing the potential shuttering of certain areas … including national parks … as politicians point fingers across the aisle shouting, “see what they caused?” … in the hopes that voters next November angrily remember their inconvenience. But it is, in fact, more serious than that … as without quick resolution (which is also known as “kicking the can down the road”) there might be furloughs and delayed (or permanently disappearing) paychecks … which is quite tragic in a society where living “paycheck to paycheck” is increasingly becoming the norm. What brought this immediately to mind was an article (included below) broadcasting the plight of one of the federal workers choosing to accept the government’s buyout offer back in April … since the pay and benefits end today. Five or six months of runway might seem like a long time in allowing to prepare … until it isn’t … and then, suddenly, your world collapses. There were two other interesting employment-related stories out this morning. The first deals with Novo Nordisk … one of the largest companies in Denmark … as Bloomberg reports some employees were given the choice of demotion or layoffs … which in a union-heavy country is surprisingly offered even as a drop in weight loss drug revenues is already resulting in a number of employees losing their jobs. But the one that fascinates me the most (and included in the last story below) is the story of actress Tilly Norwood, touted by one agency as “the next Scarlett Johansson.” Why does this intrigue me so much? Because it … or rather, she … is fake … completely AI generated. I am sorry to say this … but there will be a time in the future (if not here already) where a major spokesperson for a company is an avatar. And there will be movies where 100% of the actors are not real. No more worry about makeup, lines, or hair. No director’s angst waiting to see if the actor is able to get to the “set” on time. No putting up with fickle complaints as the performer insists on waiting until the environment is right for them to be “in the mood.” Out of work? Actors, make-up people, food truck owners and … well … quite a few others. Many others. Tilly Norwood and others like her may be about to enter our theaters … and about to be invited into our homes. Goodbye Flo, goodbye Jake, goodbye AT&T girl … whatever your name is. We’ll miss you. Have a great day, Joseph G. Witthohn, CFA Have any questions? Please contact info@teamemerald.com
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